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The Social Cost of Near-Rational Investment
Hassan, Tarek A. - 2011
We show that the stock market may fail to aggregate information even if it appears to be efficient, and that the resulting decrease in the information content of prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...
Persistent link: https://www.econbiz.de/10013125571
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Riding the Bubble? Chasing Returns into Illiquid Assets
Yagan, Danny - 2014
Household investors chase stock market returns. Surveys suggest that households intend to "ride the bubble" by buying …
Persistent link: https://www.econbiz.de/10013049679
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The dynamics of households' stock market beliefs
Gaudecker, Hans-Martin von; Wogrolly, Axel - 2019
We analyse a long panel of households' stock market beliefs to gain insights into the nature of their expectations formation processes. We classify respondents into one of five groups based on their data and estimate group-wise models of expectations formation. Two of the groups are at opposite...
Persistent link: https://www.econbiz.de/10011996781
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Has the euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - 2010
We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … approach uses a compositional multinomial logit model, in which currency choice depends on the characteristics of both the … currency and the country. We use unique quarterly panel data of Norwegian imports from OECD countries for the 1996-2006 period …
Persistent link: https://www.econbiz.de/10003969238
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The undisclosed renminbi basket : are the markets telling us something about where the renminbi - US dollar exchange rate is going?
Funke, Michael (contributor); Gronwald, Marc (contributor) - 2008
Persistent link: https://www.econbiz.de/10003674399
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The overvaluation of Renminbi undervaluation
Cheung, Yin-Wong (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003495731
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On the roles of different foreign currencies in European bank lending
Krogstrup, Signe; Tille, Cédric - 2015
foreign currency bank lending. We show that the patterns differ sharply across foreign currencies. The Swiss franc is used … measures aimed at foreign currency lending have a clear impact on lending to residents. Our analysis shows that not all foreign …
Persistent link: https://www.econbiz.de/10011344732
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Comment on Feige's paper "Reflections on the meaning and measurement of unobserved economies : what do we really know about the 'Shadow Economy'?"
Schneider, Friedrich - 2016
This comment provides a reply to Prof. Feige's paper with the title "Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the 'Shadow Economy'?", in which Prof. Feige heavily criticizes me. I show that the same critique which Prof. Feige raises against...
Persistent link: https://www.econbiz.de/10011444477
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Following in their footsteps : comparing interest parity conditions in Central European economies to the Euro countries
Mansori, Kashif - 2003
This paper investigates capital market integration in the major Central European emerging economies by testing the covered and uncovered interest parity conditions vis-à-vis the U.S. dollar and the DM/euro. The results for the Central European economies since 1997 are contrasted against those...
Persistent link: https://www.econbiz.de/10011509413
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Is Bitcoin a Real Currency? An Economic Appraisal
Yermack, David - 2013
A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely … investment than a currency …
Persistent link: https://www.econbiz.de/10013071510